Written by Q: If I buy a car with a salvaged title or branded title will my insurance be more expensive? Will I even be able to get insurance on this vehicle?
AIS Answer: Often yes you will have a higher auto insurance rate for a vehicle that carries a salvaged or branded title compared to an identical car with a clean title.
You absolutely must tell your current or prospective insurance company that the vehicle was salvaged or branded. If you don’t tell them and you insure it as a clean titled vehicle and get into an accident it’s almost assured that your insurance company will deny the claim.
It may cost more to insure a salvaged vehicle in most cases but you can do you part by finding the vehicle you wish to purchase and call your insurance company or agent and ask them to give you a free quote, or you can get one online. If you have the VIN number of the vehicle you want to purchase this will make it even more accurate. If you take this approach before buying a salvaged vehicle you can save yourself the trouble of finding quality auto insurance at an affordable price.
One last note. For those of you looking to buy vehicles it’s smart to run a vehicle history check (CarFax is a great place) before purchasing to find out what kind of title the vehicle carries.
Please speak with a licensed auto insurance agent or insurance company before making a decision on your insurance policy.
I don’t think you can get financing for a salvaged vehicle. I don’t know how insurance companies treat salvaged vehicles but I imagine that your insurance rates are going to be higher.
I don’t pay more for a savlaged vehicle
salvaged vehicles are not deemed as safe to most insurance companies and definitely not to a finance company.
why would you buy a salvaged vehicle when you’re just going to have so many problems?